Japan’s economy shrank 3.6% in the third quarter

Japan’s economy shrank 3.6% in the third quarter
Japan’s economy shrank 3.6% in the third quarter
The Japanese government office data released today (Wednesday) showed that the Japanese economy contracted during the third quarter of this year by 6.3% of the gross domestic product compared to last year.
The contraction rate was greater than expectations, which was 1.3%, after growing at an annual rate of 2% during the second quarter, according to the German news agency.
On a quarterly basis and after taking seasonal variables into account, Japan’s GDP contracted by 9.0% during the third quarter; This is also more than the forecast of 8.0% after a quarterly growth of 4.0% during the second quarter.
And capital spending in Japan fell during the third quarter by 3.2%; This is less than expectations, which was 9.3%, after growing at a rate of 2.2% during the second quarter.

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